ICICI Direct has given Buy recommendation for Hindalco with a target price of Rs. 650 in its research report issued on Oct 19, 2021

ICICI Direct’s research report on Hindalco

Hindalco is the world’s largest aluminium company by revenues, and a major player in copper. Its wholly owned subsidiary Novelis is the world’s largest producer of aluminium beverage can stock. Over the years, Hindalco has transformed its business model to reduce dependence on the volatile LME price movement and is focusing on a stable portfolio of value added produces Novelis has leveraged its extensive recycling footprint and favourable market conditions to increase its recycled content to 61% in FY21


We maintain our BUY rating on the stock We value Hindalco at Rs 650, based on SoTP valuation


Leave a Reply

Your email address will not be published. Required fields are marked *